To bolster their working capital, the group members turned to the Soro Yiriwaso microfinance institution, and this is their 7th group loan cycle. Mrs. Awa (first on the right in the photo) enjoys a great reputation as a seller of a wide variety of rice. She will use her loan to buy 500 kg of rice. She conducts her sales from her home, for cash and on credit, to a clientele composed of both men and women.
Mrs. Awa expects to earn an average monthly profit of 30,000 FCFA, which she will use to invest in her activity and to cover her children’s tuition fees. Like the other group members, she hopes that their partnership with Soro Yiriwaso will help to bolster her activity.
Dans le but d’augmenter leurs fonds de commerce, les membres du groupe ont décidé de collaborer avec Soro Yiriwaso et sont à leur 7ème cycle de prêt solidaire.
Madame Awa (1ème femme debout de la droite vers la gauche sur la photo) a une grande réputation dans la vente du riz de toutes sortes. Elle compte utiliser son prêt pour acheter 500kg de riz. La revente se fait au comptant et à crédit à domicile à une clientèle composée d’homme et de femmes. Madame Awa espère réaliser un bénéfice mensuel moyen de 30000 FCFA avec ce prêt, qui sera investi dans l’activité et assurer les frais de scolarité des enfants. Tout comme les autres femmes du groupe, Madame Awa a pour objectif d’augmenter le volume de son activités dans ce partenariat avec Soro Yiriwaso.
Important InformationSoro Yiriwaso is a microfinance institution that works primarily in rural and semi-urban areas of Mali to provide underprivileged communities with access to financial services.The organization facilitates access for disadvantaged clients, particularly women, to new resources and services, fostering solidarity and cooperation among its clients. Kiva lenders’ funds will enable Soro Yiriwaso to expand its outreach and target even more underserved Malians involved in business and agriculture.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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